NEWTON, Mass.--Hospitality Properties Trust (NYSE: HPT) announced
today that it has priced a follow-on public offering of 5,000,000 common
shares of beneficial interest at a price of $47.67 per share. The
settlement of this sale is expected to occur on Friday, February 16,
2007. HPT expects to use the net proceeds of this offering to repay a
portion of the debt incurred to fund its recently completed acquisition
of TravelCenters of America, Inc. The underwriters have been granted a
30-day option to purchase up to an additional 750,000 common shares from
HPT to cover overallotments, if any.
The joint book-running managers for this offering are Merrill Lynch
& Co., Morgan Stanley and RBC Capital Markets. The joint lead
managers for this offering are UBS Investment Bank and Wachovia
Securities. The co-managers for this offering are Banc of America
Securities LLC, Ferris, Baker Watts Incorporated, Janney Montgomery
Scott LLC, Morgan Keegan & Company, Inc., Oppenheimer & Co. and
Stifel Nicolaus.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state or jurisdiction in which the offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of that state or jurisdiction. Copies of the
supplemental prospectus supplement and related prospectus may be
obtained from the offices of Merrill Lynch & Co., 4 World Financial
Center, New York, New York 10080 (telephone: 212-449-1000), from the
offices of Morgan Stanley, 1585 Broadway, New York, New York 10036
(telephone: 212-761-4000), from the offices of RBC Capital Markets,
Equity Syndicate Department, One Liberty Plaza, 165 Broadway, New York,
NY 10006 (facsimile: 212-428-6260), or from the offices of any of the
other managing underwriters identified above.
Hospitality Properties Trust
Timothy A. Bonang
617-796-8149
Manager of Investor Relations
www.hptreit.com